BUZZ-Copper miners gain on weaker US dollar, DRC mine concerns

Reuters
05-24
BUZZ-Copper miners gain on weaker US dollar, DRC mine concerns

** Shares of copper miners up, tracking prices of the red metal

** Benchmark three-month copper CMCU3 on the London Metal Exchange up 1.2% at $9,617 a metric ton

** Copper prices rise to their highest in more than three weeks, buoyed by a weaker U.S. dollar and worries about problems at a big mine in Congo

** Copper also bolstered by concerns about the huge Kamoa-Kakula copper mine in the Democratic Republic of Congo, the biggest copper producer in Africa and one of the world's largest

** U.S.-listed shares of global mining giants Rio Tinto RIO.N and BHP Group BHP.N rise ~1% and 1.1%, respectively

** Copper miners Southern Copper SCCO.N and Freeport-McMoRan FCX.N up 1.9% and 2.8%, respectively

** Canadian miners: Hudbay Minerals HBM.TO up 2.2%, Ero Copper ERO.TO rises 1.5% and Teck Resources TECKb.TO up 1.4%

(Reporting by Pooja Menon in Bengaluru)

((Pooja.Menon@thomsonreuters.com;))

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